Revenue: As of FY2027 Q1, the actual value is USD 457.6 M, missing the estimate of USD 483.27 M.EPS: As of FY2027 Q1, the actual value is USD 0.24, missing the estimate of USD 0.2817.EBIT: As of FY2027 Q1, the actual value is USD 34.1 M.<h4>Consolidated Financial Metrics</h4><ul><li>Gross Margin remained consistent at 47.6% in both the first quarter of 2026 and 2025.</li><li>Operating Profit increased by 61.4% to $33.9 million in the first quarter of 2026, compared to $21.0 million in the first quarter of 2025.</li><li>Operating Expenses increased to $183.9 million in the first quarter of 2026 from $175.1 million in the first quarter of 2025, primarily due to higher advertising costs ($8.0 million), higher selling costs ($5.5 million), and higher distribution costs ($2.2 million), partially offset by lower general and administrative costs ($4.4 million) and lower environmental and other related costs ($1.9 million).</li><li>Net Interest Expense decreased to $6.5 million in the first quarter of 2026 from $8.0 million in the first quarter of 2025, mainly due to lower average principal balances of variable rate debt.</li><li>Net Earnings increased to $22.4 million in the first quarter of 2026 from $13.2 million in the first quarter of 2025.</li></ul><h4>Segment Revenue</h4><ul><li>Active Group: Revenue increased by $44.9 million, or 13.7%, to $371.6 million in the first quarter of 2026 from $326.7 million in the first quarter of 2025, primarily driven by Saucony® (up $26.1 million) and Merrell® (up $19.1 million).<ul><li>Wholesale revenue for the Active Group was $281.3 million in Q1 2026, up from $239.1 million in Q1 2025.</li><li>Direct-to-Consumer revenue for the Active Group was $90.3 million in Q1 2026, up from $87.6 million in Q1 2025.</li></ul></li><li>Work Group: Revenue increased by $0.9 million, or 1.2%, to $75.7 million in the first quarter of 2026 from $74.8 million in the first quarter of 2025, primarily due to increases from HYTEST® (up $0.9 million) and Harley-Davidson® (up $0.8 million), partially offset by a decrease from Wolverine® (down $1.0 million).<ul><li>Wholesale revenue for the Work Group was $67.5 million in Q1 2026, up from $66.9 million in Q1 2025.</li><li>Direct-to-Consumer revenue for the Work Group was $8.2 million in Q1 2026, up from $7.9 million in Q1 2025.</li></ul></li><li>Other Category: Revenue decreased by $0.5 million, or 4.6%, to $10.3 million in the first quarter of 2026 from $10.8 million in the first quarter of 2025, mainly due to a decrease in Hush Puppies® royalty revenue.<ul><li>Wholesale revenue for Other was $9.5 million in Q1 2026, down from $9.9 million in Q1 2025.</li><li>Direct-to-Consumer revenue for Other was $0.8 million in Q1 2026, down from $0.9 million in Q1 2025.</li></ul></li><li>Total Direct-to-Consumer Revenue increased by $2.9 million, or 3.0%, in the first quarter of 2026 compared to the first quarter of 2025.</li></ul><h4>Segment Operating Profit</h4><ul><li>Active Group: Operating profit increased by $8.3 million, or 14.3%, to $66.4 million in the first quarter of 2026 from $58.1 million in the first quarter of 2025, driven by revenue increases, partially offset by an 80 basis point decrease in gross margin and a $10.9 million increase in selling, general and administrative expenses.</li><li>Work Group: Operating profit decreased by $0.6 million, or 8.5%, to $6.5 million in the first quarter of 2026 from $7.1 million in the first quarter of 2025, due to a $2.1 million increase in selling, general and administrative expenses, partially offset by a 160 basis point increase in gross margin.</li><li>Other Category: Operating profit decreased by $0.4 million, or 5.3%, to $7.1 million in the first quarter of 2026 from $7.5 million in the first quarter of 2025, primarily due to lower Hush Puppies® royalty income.</li><li>Corporate: Expenses decreased by $5.6 million in the first quarter of 2026 compared to the first quarter of 2025, mainly due to lower corporate general and administrative costs ($2.7 million), lower environmental and other related costs ($1.9 million), and lower reorganization activities ($1.8 million).</li></ul><h4>Cash Flow</h4><ul><li>Net Cash Used in Operating Activities was -$83.2 million for the first quarter of 2026, compared to -$83.8 million for the first quarter of 2025.</li><li>Net Cash Used in Investing Activities was -$1.9 million for the first quarter of 2026, compared to -$7.9 million for the first quarter of 2025.</li><li>Net Cash Provided by Financing Activities was $0.4 million for the first quarter of 2026, compared to $46.6 million for the first quarter of 2025.</li><li>Cash and Cash Equivalents were $119.6 million as of April 4, 2026, compared to $106.5 million as of March 29, 2025.</li></ul><h4>Other Key Metrics</h4><ul><li>Total Inventories were $280.3 million as of April 4, 2026, compared to $279.2 million as of March 29, 2025.</li><li>Total Debt was $638.9 million as of April 4, 2026, compared to $710.8 million as of March 29, 2025.</li><li>Unborrowed Revolving Credit Facility was $492.9 million as of April 4, 2026, compared to $659.0 million as of March 29, 2025.</li><li>Environmental Remediation Reserve was $25.5 million as of April 4, 2026, with $11.1 million expected to be paid within the next twelve months.</li></ul><h4>Future Outlook and Strategy</h4>沃尔弗林集团 (Wolverine World Wide, Inc.) aims to build and grow high-energy brands, offering innovative products and compelling brand propositions, and expanding its global direct-to-consumer footprint. The company plans to complement footwear brands with apparel and accessories and deliver supply chain excellence. Excess operating cash flow is expected to fund organic growth initiatives, reduce debt, pay dividends, and be used for general corporate purposes, with current seasonal sales patterns anticipated to continue.

Wolverine World Wide | 10-Q: FY2027 Q1 Revenue Misses Estimate at USD 457.6 M